Improving demand outlook lifts Zinc
12/11/2014 09:25
Zinc futures ended higher in the domestic market on Tuesday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market.
Further, an uptick in small business confidence in the US in October signaled strong momentum in the world’s biggest economy, lifting zinc’s demand prospects.
Bets that the European Central Bank’s (ECB) aggressive stimulus measures may spur a revival in the 18-member Euro area economy also supported zinc as the ECB said that it will launch its much anticipated program of buying asset backed securities next week.
At the MCX, Zinc futures for November 2014 contract closed at Rs. 139.75 per 1 kg, up by 0.79 per cent, after opening at Rs. 138.90, against the previous closing price of Rs. 138.65. It touched an intra-day high of Rs 139.95.
12/11/2014 09:25
Zinc futures ended higher in the domestic market on Tuesday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market.
Further, an uptick in small business confidence in the US in October signaled strong momentum in the world’s biggest economy, lifting zinc’s demand prospects.
Bets that the European Central Bank’s (ECB) aggressive stimulus measures may spur a revival in the 18-member Euro area economy also supported zinc as the ECB said that it will launch its much anticipated program of buying asset backed securities next week.
At the MCX, Zinc futures for November 2014 contract closed at Rs. 139.75 per 1 kg, up by 0.79 per cent, after opening at Rs. 138.90, against the previous closing price of Rs. 138.65. It touched an intra-day high of Rs 139.95.
